The Mauritius Branch of the International Fiscal Association (IFA), held its 9th Asia/Africa IFA Conference on the 7th and 8th of May 2015 at InterContinental Resort, Balaclava, Mauritius, under the main theme: “Recent Developments in International Taxation and Tax Challenges of Investing in Africa”. The speakers included eminent local and international experts in law, international taxation and finance, as well as the Regulators.
The Honourable Sudarshan Bhadain (Minister of Financial Services, Good Governance and Institutional Reforms) officially launched the Conference. In his key note speech, he announced that he will be revamping the legislative framework for financial services, to make the jurisdiction more investor friendly and an attractive financial centre. He further announced that he will be heading an important delegation, firstly to the Republic of South Africa by the end of May 2015 to conclude on the Double Taxation Avoidance Agreement (DTAA) renegotiation as well as going to the Republic of India to complete the renegotiation of the DTAA.
Cim Global Business was the “Platinum Sponsor” of the IFA conference. The Head of Tax of Cim Global Business, Mr Gary Gowrea was one of the Panelists on Global Impact of Emerging Tax Trends on “Mid-Shore” Jurisdictions – looking into the crystal ball. He stated that there are a lot of challenges looming for mid-shores, especially with the Organisation for Economic Co-operation and Development (OECD) initiatives on Base Erosion and Profit Shifting (BEPS), Common Reporting Standards (CRS) and Foreign Account Tax Compliance Act (FATCA).